Brian, was it sharp? Like a leather tool? If not, maybe a tool for installing push-on nuts like on Tonka Toy wheels? Kitchen tool for making Red-Hots very slowly? Pharmaceutical tool for making Sudafed-like pills in limited volume? Wood handle says pre 1950. If the shank is through the handle, it might be a rivet setter, but the handle should show some damage from striking. None of the rivet tools I have seen have wood handles.
